Arvind surges as JV starts manufacturing Nonwoven fabric

02 Jun 2014

Arvind is currently trading at Rs. 186.60, up by 3.15 points or 1.72% from its previous closing of Rs. 183.45 on the BSE.

The scrip opened at Rs. 184.00 and has touched a high and low of Rs. 187.40 and Rs. 183.50 respectively. So far 1,93,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 204.90 on 26-May-2014 and a 52 week low of Rs. 65.00 on 08-Aug-2013.

Last one week high and low of the scrip stood at Rs. 204.90 and Rs. 181.15 respectively. The current market cap of the company is Rs. 4,817.00 crore.

The promoters holding in the company stood at 43.81% while Institutions and Non-Institutions held 36.99% and 19.03% respectively.

Arvind OG Nonwovens, a joint venture (JV) between Arvind and OG Corporation of Japan, has inaugurated its manufacturing facilities near Ahmedabad in state of Gujarat, on May 31, 2014. The JV will manufacture high quality Nonwoven fabrics using Needle-punch technology for Bag house filtration, Artificial leather and a variety of other applications. The JV also has a technology alliance with Kureha of Japan.

Arvind OG has installed custom-built machines specifically designed to achieve Japanese quality standards and capable of handling various fibers such as M-Aramid, Homopolymer Acrylic, Poly-phenelyene Sulfone (PPS), Polyimide Polypropylene and Polyester. These will be manufactured at the newly installed facilities following the highest global standards of quality while leveraging the advantage of India’s cost of production.

The unit has started production with one line of needle-punching technology, with total investment of nearly Rs 50 crore and is targeting to reach turnover in excess of Rs 100 crore in 3 years. Beyond this, the company will continue to expand capacities in this as well as other technologies within the Nonwoven fabrics space, which will be an important pillar of Arvind’s technical textiles growth strategy going forward.

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Arvind Share Price

47.85 -1.30 (-2.64%) Nov 18, 18:01
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